The New York City Water Board met to propose changes to the Water & Sewer Rate Schedule to be effective July 1st, 2021. The meeting took place via teleconference on Monday May 10th at 9 AM, and was attended by Board Members Alfonso Carney, Dr. Demetrius Carolina, Sr., Evelyn Fernandez-Ketcham, Adam Freed, Jonathan Goldin, Jukay Hsu, and Arlene Shaw.
The Board announced that rates would increase by 2.76%, after years with no increase. The rate increase wasn’t unexpected, as the DEP has incurred additional cost due to Covid while consumption dropped reducing revenue. it As expected, for the eighth year in a row the deadline to file paperwork for the Multi-family Conservation Program was extended once again. This time they blamed the extension on Covid.
The most significant financial change announced was that the interest rates for late payments involving certain properties would increase from 5% to 18%. According to the Board, a two-tier interest rate had been in effect based upon the valuation of the property, but the 5% rate was the only one that was enforceable due to computer program limitations. With the upcoming launch of new software, the DEP is now able to apply the 18% interest rate to certain properties, as well as keep the 5% rate for others.
Two public hearings will be held on June 1st and 2nd at 12 PM and 6 PM, respectively, via conference call. Interested parties can call (347) 921-5612 with the access code: 107 181 687, or email comments to email@example.com by 4 PM the day before the hearing.
Not bad news for this crazy year.